London Stock Exchange posts strong results

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III5.06-0.13

LONDON (ShareCast) - London Stock Exchange Group posted increased revenues Thursday as the financial information company benefit from varied range of businesses.

The British multinational stock exchange said total income was up 9.0% to £632.5 for the nine months to December 31st while total revenues climbed 8.0% to 528.9%.

Information services (NasdaqGM: III - news) contributed to the majority of revenues as it soared 58% to £223.6m for the period.

Technology services also boosted results as it increased 4.0% to £39.3m, driven by growth from MillenniumIT, which supplies a suite of capital market products that include trading platforms.

The group net debt reduced to £394m by the end of the period or £594m after setting aside cash held for the regulatory and operational support purposes.

"The group has continued to benefit from a more diversified range of businesses with particularly strong performances from our information services and our technology operations," said Xavier Rolet, Chief Executive.

He said he was also pleased with the progress made towards completing the acquisition of LCH.Clearnet, a European based independent clearing house that serves major international exchanges.

The group is awaiting clearance from the UK Office of Fair Trading and provisional agreement on its revised offer for a majority stake of up to 60% of the company.

"We are now focused on obtaining shareholder approval and completing the transaction," Rolet said.

"We look forward to continuing to develop further growth opportunities and innovating across platforms, products and geographies in partnership with our customers."

RD